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5 major trends that are being accelerated by the Covid-19

08/12/2020

5 major trends that are being accelerated by the Covid-19

The Covid-19 pandemic is having a profound impact on many areas of our lives, some more obvious than others. To highlight just how wide-ranging the effects of pandemic have been, the World Economic Forum has compiled a list of five major trends that are being accelerated by the Covid-19.


Here are the trends Covid has accelerated, according to the World Economic Forum:


1. Increased screen time


We’re all spending more time in front of screens (TVs, computers, smartphones). In fact, our use of screens has risen considerably, with 44% of people under the age of 18 now reporting four hours or more of screen time per day (up from 21% prior to the pandemic).


2. A big consumer shake-up


Physical buying is now as “frictionless” as possible and online shopping has become as nimble as possible. Cashierless checkouts and contactless payment means are fast becoming the norm in-store, while eCommerce companies (especially Amazon) have reported a surge in sales.


3. Peak globalization


Globalization has plateaued since the financial crisis and the Covid pandemic seems to be the final nail in its coffin.


4. A broadening wealth gap


Billionaires are now worth more than ever and inequality is growing. Those in the top 50% wealth bracket have witnessed their fortunes growing, while those in the bottom 50 have seen stagnation.


5. The rise of the flexible workplace


In 2019, more than half of companies did not have flexible working arrangements or the capabilities to allow staff to work flexibly. Fast-forward to today and 82% of business leaders say they intend to permit remote working some of the time going forward.

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